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20210324 New carried interest regime and unified fund exemption

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Programme Code:
20210324
Date:
24 March 2021 (Wednesday)
Time:
6:30 pm - 8:00 pm
Speakers:

Mr Roy Phan, Director, International Tax Services, Deloitte

Language:
Cantonese
Venue:
Live webinar
Proficiency Level:
Intermediate Level
Fee:
$150 – $200
CPD Hours:
1.5
Seat:
100
Event Categories:
,
Application Form:
20210324 flyer

Description

Ever since the issuance of consultation paper by the Hong Kong Government in August 2020 about the proposed tax concession regime on carried interest, industry players have been excitedly looking forward to the coming of further details about the tax concession.

The long-awaited next step has finally come – Financial Services and the Treasury Bureau issued the Administration’s paper on “Tax concession for carried interest” in December 2020, and the relevant legislative proposal was discussed at the Legislative Council Panel on Financial Affairs on 4 January 2021. On 28 January 2021, the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Bill 2021 (“the Bill“) was published and subject to readings by Legislative Council to become effective.

The Bill is broadly welcomed by the industry, and is expected to strengthen Hong Kong’s competitiveness in attracting private equity (PE) or venture capital (VC) managers. This webinar will cover the following aspects of the Bill:

– Key requirements of the tax exemption regime

– Implications to typical offshore fund structure / operational model

Speaker Profile

Mr Roy Phan, Director, International Tax Services, Deloitte

Roy is a tax director based in Hong Kong. He has more than 15 years of experience providing Hong Kong, China and international tax consulting, as well as Hong Kong tax compliance services extensively for financial services clients (including banking and securities groups, insurance companies, investment funds and asset managers) and MNC clients.

Roy is specialized in advising private equity funds, hedge funds and family offices on their Hong Kong and China tax issues at fund formation, in particular the applicability of the fund exemption regime in Hong Kong and the potential issue in China on indirect transfer in equity. He is also experienced in providing advice on the tax efficient structures for funds from profit repatriation and future exit perspectives. Roy has resolved disputes with the Hong Kong Inland Revenue Department on various industry issues for MNC and financial services clients (including source of interest income, deductibility of interest expense).

Roy led various regional tax projects on group restructuring, cross-broader transactions, merger and acquisition deals for PE funds, banks and insurance companies, which involves diverse jurisdictions such as Thailand, Philippines, Indonesia, Malaysia, Singapore, Taiwan, Korea, etc.